Global Talent Management
CHAPTER ENTITLED: FRAMEWORK FOR GLOBAL TALENT MANAGEMENT: HR ACTIONS FOR DEALING WITH GLOBAL TALENT CHALLENGES
Randall S. Schuler, Susan E. Jackson Rutgers University and Lorange Institute of Business Zurich and Ibraiz Tarique Pace University
Source: To appear in H. Scullion and D. Collings (eds.), Global Talent Management (London: Routledge, 2010).
© Randall S. Schuler, Susan E. Jackson and Ibraiz Tarique. The authors wish to express thanks for preparatory comments and suggestions to Clemens Brugger, Gary Bruton, Dave Collings, Tim Devinney, Bill Guth, Wes Harry, Mike Hitt, Paul Sparrow, Mark Saxer, Hugh Scullion, Ken Smith, Rosalie Tung and Nadia Wicki. Supported by a grant from the School of Management and Labor Relations, Rutgers University.
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FRAMEWORK FOR GLOBAL TALENT MANAGEMENT: HR ACTIONS FOR DEALING WITH GLOBAL TALENT CHALLENGES
Introduction Up until 2008 firms around the world were confronted with a major threat to doing business: a demand for talented employees that far surpassed the supply. This was especially acute in the developing countries that were benefiting from a strong business cycle based upon tremendous exports to the developed nations, and increased foreign direct investment from firms in developed nations wishing to take advantage of substantially lower wages in developing countries. Forecasts were being made of even greater shortages to come due to forecasts for continued global economic growth virtually everywhere, but especially in the developing nations. Firms worked aggressively to retain their current employees, often providing training and development benefits to make the firm more attractive, and also to develop the talents of these workers. “Talent” became a key word in global business. Firms faced many global talent challenges including having the right number of competent employees at the right place and at the right time. They also faced the challenge of needing to reduce the costs of operations, thus moving
Randall S. Schuler, Susan E. Jackson Rutgers University and Lorange Institute of Business Zurich and Ibraiz Tarique Pace University
Source: To appear in H. Scullion and D. Collings (eds.), Global Talent Management (London: Routledge, 2010).
© Randall S. Schuler, Susan E. Jackson and Ibraiz Tarique. The authors wish to express thanks for preparatory comments and suggestions to Clemens Brugger, Gary Bruton, Dave Collings, Tim Devinney, Bill Guth, Wes Harry, Mike Hitt, Paul Sparrow, Mark Saxer, Hugh Scullion, Ken Smith, Rosalie Tung and Nadia Wicki. Supported by a grant from the School of Management and Labor Relations, Rutgers University.
1
FRAMEWORK FOR GLOBAL TALENT MANAGEMENT: HR ACTIONS FOR DEALING WITH GLOBAL TALENT CHALLENGES
Introduction Up until 2008 firms around the world were confronted with a major threat to doing business: a demand for talented employees that far surpassed the supply. This was especially acute in the developing countries that were benefiting from a strong business cycle based upon tremendous exports to the developed nations, and increased foreign direct investment from firms in developed nations wishing to take advantage of substantially lower wages in developing countries. Forecasts were being made of even greater shortages to come due to forecasts for continued global economic growth virtually everywhere, but especially in the developing nations. Firms worked aggressively to retain their current employees, often providing training and development benefits to make the firm more attractive, and also to develop the talents of these workers. “Talent” became a key word in global business. Firms faced many global talent challenges including having the right number of competent employees at the right place and at the right time. They also faced the challenge of needing to reduce the costs of operations, thus moving
References: © Randall S. Schuler, 2010, Rutgers University.